OverActive Media Corp. announced on July 14 that its common shares began trading on the TSX Venture Exchange. The ticker symbol is “OAM.”
An esports and entertainment company, OverActive’s headquarters are in Toronto, with offices in Berlin and Madrid. The company owns esports teams such as the Toronto Defiant, Toronto Ultra and MAD Lions.
The company raised over $100 million CAD through investors, established brands, athletes and entertainers. Early investors include Canadian communications company Bell, The Weeknd, the Montreal Canadiens, Westdale Properties, Ov2 Capital and NHL hockey players Mitch Marner, Phil Kessel and Carl Hagelin.
OverActive Media’s thoughts on the move
Chris Overholt, the president and CEO of OverActive, sat down with Upcomer for an interview to discuss the future of the company, and the esports landscape.
“This is a logical step in our evolution,” Overholt said. “When we set out with the company, we imagined that if we really did a great job, we might be able to raise $100 million privately, and that would set us up for the next chapter.”
He added how OverActive is building on what it already has, alongside scaling its operating group and acquired team assets. Additionally, Overholt noted that the company found success despite the pandemic.
“It’s certainly been a difficult time in the world and a challenging time for all of our staff like everyone else,” he said. “It’s also, in some ways, been heartening to see the way our industry has reacted and been able to pivot so many times.”
The strength of the esports industry, Overholt continued, is the ability to pivot and never miss a beat. The leagues that OverActive are invested in, and are franchise partners with, managed to carry on.
A new generation of esports fans
The experience of the OverActive team and Overholt himself hope to play a role in bringing esports to the future. “We believe that esports is simply another expression of sports for a new generation of fans,” he told Upcomer.
Overholt explained that the principles being applied to the esports industry are the same as the ones from his early days at Maple Leaf Sports & Entertainment, the Miami Dolphins and the Canadian Olympic Committee.
“We’re strategic. We spend a lot of time thinking about how we build our team brands because they’re the engine of our business,” he said. “And, of course, we spend a lot of time thinking about how we can get marketing partners to engage in associations with our team brands, players and organization.”
OverActive Media previously announced plans to build a new venue too. The venue will be the home of Toronto Defiant and Toronto Ultra, located on the CNE grounds in Toronto. The venue would also host musical and cultural programming, if given the go-ahead.